Gloal corporate strategy Essay Example | Topics and Well Written Essays - 3000 words

Gloal corporate strategy - Essay Example It has been estimated that Asia will witness the highest growth in the retail food market. To become market leaders, Walmart, Carrefour and Tesco have adopted several innovation strategies which have ultimately helped them to become global leaders. Walmart’s growth under the leadership of Lee Scoot needs special mention as the company has made significant breakthroughs after he became the company’s CEO in 2000. Kapner S., February 2009, Changing Of The Guard At Wal-Mart, Cable News Network: A Time Warner Company, [Online], Available: http://money.cnn.com/2009/02/17/news/companies/kapner_scott.fortune/index.htm, [2 May 2009] 21 The Unending Woes Of Lee Scott, January 2007, Cable News Network: A Time Warner Company, [Online], Available: http://money.cnn.com/magazines/fortune/fortune_archive/2007/01/22/8397972/ , [2 May 2009] 23 Carrefour has grown to become one of the global food retail giants by expanding both domestically and internationally. It started off by entering into joint ventures with the local companies. The company was the first to introduce the concept of hypermarkets and its first international foray was marked by setting hypermarkets in Brazil in the year 1975. (Holtreman A, n.d). Carrefour and Promodes merged forces in 1999 to form the largest food retailer within Europe. This merger made them the second largest global retailer with their presence stretched to cover almost 26 countries. (Merger Carrefour – Promodà ¨s, n.d.) This merger promised to have an overall beneficial effect on the business of the two merged entities. The aftereffects of the merger were supposed to benefit the stakeholders of the company at large. Suppliers would be able to reap the advantages of increased export opportunities and customers would be able to get their hands on an array of new products. This deal was mainly drafted by Carrefour to save itself from falling prey to Walmart, the leading US food retail giant, as the latter